Tata Group regains Air India’s ownership after seven decades
NEW DELHI: The government on Thursday handed over Air India (AI) to the Tata Group, marking the end of the process for the transfer of the debt-laden national carrier.
The airline began its journey under the Tatas 90 years ago before the government nationalised the sector in 1953. Its 100% stake was sold to the autos-to-steel Tata conglomerate for ₹18,000 crore. The Centre announced the sale on October 8.
Talace Pvt Ltd, a wholly-owned subsidiary of Tata Sons, gets 100% equity shares of AI and AI Express. It will also get the government’s 50% stake in ground-handling company AISATS.
